General Growth Properties Settles Lawsuit Over Strong Arm Methods

Chicago-based General Growth Properties (GGP) agreed to settle a lawsuit for $48 million over alleged strong arm tactics. GGP, the bele...

Chicago-based General Growth Properties (GGP) agreed to settle a lawsuit for $48 million over alleged strong arm tactics.

GGP, the beleaguered developer of the troubled Elk Grove Promenade was accused by the owners of the Glendale (Calif) Galleria of attempting to stong-arm The Cheesecake Restaurant chain from locating at the Galleria. GGP was found guilty in a jury trial of threatening Cheesecake Factory's leases at other GGP malls if they located at the Galleria.

The initial jury award in November, 2007 was for $89 million. GGP agreed to the lower settlement and dropped it's appeal.

Post a Comment Default Comments

Follow Us

Popular

Archives

Elk Grove News Minute






All previous Elk Grove News Minutes, interviews, and Dan Schmitt's Ya' Gotta be Schmittin' Me podcasts are now available on iTunes

Elk Grove News Podcast




item